EXCLUSIVE: Taiwan Exchange Eyeing Cross ETF Listings with TSE

Tokyo, March 16 (Jiji Press)--The Taiwan Stock Exchange (TWSE)
plans to introduce cross-listings of exchange-traded funds with the Tokyo
Stock Exchange later this year, a senior official at the Taiwan market has
told Jiji Press.

The TWSE hopes to create a new ETF comprised of select Taiwanese
stocks to trade on the Tokyo exchange, visiting TWSE Senior Vice President
for International Affairs Chen Shin-chung said.
The TWSE also wants to list major ETFs that currently trade on the
TSE, Chen said, stressing that cross ETF listings with the Tokyo market is a
top priority for the TWSE.
The two exchanges signed a comprehensive cooperation pact in 2000,
but they have yet to launch any joint project. The TWSE hopes to make the
cross ETF listing the first such collaboration.
The TWSE intends to create an ETF that will fully reflect the
movements of the overall Taiwanese market, Chen said.
Japanese investors would welcome an ETF made up of select 50
Taiwanese stocks as a way to diversify risk and as a promising source of
profits, he also said.
The TSE currently cross-lists ETFs with the New York Stock Exchange
and the Korea Stock Exchange.
TSE officials said they have not received any formal request for
cross ETF listings with the Taiwan exchange. The Tokyo market will make its
decision after examining demand for the product, an official said.